IMPROVING THE EFFECTIVENESS OF ACCOUNTING SYSTEM IN EDUCATION SECTOR
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- NGN 3000
ABSTRACT
This study was carried out on improving the effectiveness of accounting system in education sector using Auchi polytechnic as case study. To achieve this, four significant research objectives were formulated. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of all the staff of Auchi polytechnic. In determining the sample size, the researcher conveniently selected 70 respondents while 55 were received and 50 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and percentage, while the hypothesis were tested using Chi-square statistical tool. The result of the findings reveals that effective accounting system have a significant effect on the allocation of resource in Nigeria’s educational sector. Also effective accounting system also plays paramount roles in fraud detection and prevention in Auchi polytechnic. Among its roles include; tracking of all sort of transactions, identifying illegal financial activity, remedying misappropriation of accounts, and presenting transparently, the true and fair nature of financial transactions. In regard to the findings, the study recommends that government and regulatory authorities should ensure the provision of standards and guidelines to regulate accounting activities and above all Nigeria institutions should embrace integrity, objectivity, fairness and accountability in their day-to-day activities. And the regulators of the financial accounting practices should ensure that the educational organization adhere strictly to the accounting rules.
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